1. Fiduciary deposits are a unique product offered by Swiss banks which attract clients from around the world seeking safety, liquidity, anonymity and a tax shelter.

They are large cash deposits placed in the international markets on behalf of clients, without disclosing the clients' identity.

The client sends funds to a Swiss bank, which sends them to a bank outside Switzerland. They are placed in the name of the bank, but the client bears all the risk and receives all the income. Swiss banks charge a small fee for this service.

Much of the money comes through offshore tax havens, giving clients an extra layer of anonymity and protection from taxes.

Most of it is invested in a few European countries and the Euromarket, the London market which deals in international stocks, bonds, loans and other instruments.

2. The figures are rounded, year-end totals in billion Swiss francs, unless indicated otherwise.

3. "Big banks" now only refers to UBS and Credit Suisse, as a result of consolidation.